BIIB - Small Caps Are Rising Biotechs Can't Be Far Behind
Market Pulse
The S&P 500 has finally emerged from its 7-month consolidation as it weaves its way back to chalking all-time highs. While that is an event worth acknowledging, it may not be as breathless a milestone when one realizes that the small cap Russell 2000 index led the market and achieved that milestone in May, followed by a similar achievement by the Nasdaq Composite in June.
However, what may be an even more meaningful milestone is that small caps are once again leading the broader market to all-time highs, and we are now in